Strategic Financial Concepts LLC Acquires Shares of 27,234 Pilgrim’s Pride Co. (NASDAQ:PPC)

Strategic Financial Concepts LLC bought a new position in shares of Pilgrim’s Pride Co. (NASDAQ:PPC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 27,234 shares of the company’s stock, valued at approximately $1,236,000.

Several other hedge funds also recently made changes to their positions in the business. Pacer Advisors Inc. raised its stake in Pilgrim’s Pride by 1,289.4% in the third quarter. Pacer Advisors Inc. now owns 5,225,216 shares of the company’s stock valued at $240,621,000 after purchasing an additional 4,849,147 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Pilgrim’s Pride by 903.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,455,513 shares of the company’s stock valued at $67,026,000 after buying an additional 1,310,530 shares during the period. Geode Capital Management LLC raised its position in shares of Pilgrim’s Pride by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 881,900 shares of the company’s stock valued at $40,620,000 after buying an additional 11,128 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Pilgrim’s Pride by 145,879.0% during the 3rd quarter. Assetmark Inc. now owns 827,701 shares of the company’s stock worth $38,116,000 after acquiring an additional 827,134 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Pilgrim’s Pride by 88.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 433,891 shares of the company’s stock worth $19,981,000 after acquiring an additional 203,408 shares during the period. 16.64% of the stock is owned by institutional investors.

Pilgrim’s Pride Price Performance

Shares of PPC opened at $52.15 on Wednesday. The company has a quick ratio of 1.27, a current ratio of 1.95 and a debt-to-equity ratio of 0.75. The stock has a market cap of $12.37 billion, a PE ratio of 12.60, a PEG ratio of 0.20 and a beta of 0.82. Pilgrim’s Pride Co. has a 12-month low of $28.29 and a 12-month high of $57.16. The business has a 50-day simple moving average of $47.63 and a two-hundred day simple moving average of $47.06.

Analyst Ratings Changes

PPC has been the subject of several research analyst reports. BMO Capital Markets boosted their price objective on shares of Pilgrim’s Pride from $42.00 to $43.00 and gave the company a “market perform” rating in a research report on Friday, November 1st. StockNews.com cut Pilgrim’s Pride from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Finally, Barclays raised their price objective on Pilgrim’s Pride from $45.00 to $49.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Pilgrim’s Pride presently has a consensus rating of “Hold” and an average target price of $45.50.

Pilgrim’s Pride Profile

Pilgrim’s Pride Corp. engages in the production, processing, marketing, and distribution of fresh, frozen and value-added chicken and pork products to retailers, distributors, and foodservice operators. It operates through the following segments: U.S., U.K. and Europe, and Mexico. The company was founded by Lonnie A.